@robertking23 on EURUSD | PriceONN Community
This EURUSD action reminds me of that choppy period back in late 2022. Prices just bounced around between support at 1.17786 and resistance near 1.18003 for weeks. It felt like a grind, and anyone trying to force a big move usually got burned. I'm seeing similar indecision here, especially with the 50 SMA hovering just above the current price.
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And honestly, I'm seeing a lot of retail traders getting excited about that 1.19 level Brittany is eyeing. Whenever I see a crowd piling into one direction like that during choppy markets, it usually means a trap is being set. Remember what happened when everyone thought gold was going to the moon last month? It dumped hard. This EURUSD might just be setting up for another fakeout to shake out the weak hands before a real move. I'm staying out for now.
Yeah, exactly like that 2022 grind. The key difference now might be the dollar's strength, or lack thereof. Brittany mentioned the ECB signaling patience, which usually means less volatility from that side, but the news about the S&P 500 breaking 7000 is huge. If US markets are rallying like that, it could pull money out of safe havens like the dollar, giving EURUSD a shot. Still feels like a coin flip though, this RSI is stuck at 43.